Everything You Need To Know
- You’re going to get old and die.
- It’s your life and your money.
- Long Term Care is not the spectre we think it is.
- Whistle-stop explanation of wills, LPAs and pension death benefits.
Everything You Need To Do
- Sort out your Wills and LPAs and death benefits.
- Make/review wills.
- Make/review Lasting Power of Attorney (LPA).
- Check and review Expression of Wishes on pensions.
- Also if you have life insurance – check if it is in trust. Don’t want lump sums added to your estate, especially if you have an IHT issue.
- Think about what will happen when one of you dies.
- Involve your family or a trusted professional.
- Be crystal clear with your wishes and make them known.
- Anything in your will which might raise an eyebrow!
- Where and how you’d like to receive care (at home or in a specific care home if possible).
- Charities or causes you care about.
- Gifts you have made, perhaps to be borne in mind when dishing out to beneficiaries in a will.
- Organ donation.
- Who to contact when the time comes.
- Don’t forget digital assets. Consider a password manager such as 1Password.
The post Big Mistakes: Ignoring Later Life Planning appeared first on Meaningful Money – Making sense of Money with Pete Matthew | Financial FAQ.
* This article was originally published here
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